Telstra loses High Court battle

Telstra has lost its legal battle to prevent the opening of its network to competitors, with the High Court unanimously rejecting Telstra's argument that sharing its equipment amounted to an acquisition of its property.

Transcript

ALI MOORE: Telstra has lost its battle to prevent the opening of its network to competitors. The High Court today unanimously rejected Telstra's argument that sharing its equipment amounted to an acquisition of its property. while the ACCC welcomed the decision Telstra says it will encourage rivals to sponge off Telstra and not build their own infrastructure. Telstra shares closed over 1.5 per cent weaker at $4.47.